How to get the Coronavirus government £10,000 cash grant for small businesses?

In the initial budget, the Chancellor announced £3,000 grants for small businesses. This small business coronavirus cash grant was then increased to £10,000 on 17th March.  
This is part of a £330bn package of support for businesses. 

How do I get the government £10,000 coronavirus cash grant?

Eligibility is still based around rate relief. 

Those who qualify for Small Business Rate Relief (SBBR) or Rural Rate Relief will be able to get the funding. 

The Department for Business, Energy & Industrial Strategy will be working with local authorities to outline the scheme and encourage local authorities to prepare.You should contact your local authority to check their process to claiming.Local authorities have been paying out on these grantsThe coronavirus grant only applies to small business in England. Business rates in Scotland, Wales and Northern Ireland are set by their devolved administrations

Are the grants taxable?

In the absence of any specific guidance to the contrary, we assume that normal tax rules apply and these grants will be taxable as income. The business can then claim tax relief on the expenditure supported by the grant.

About the Author

Annette Ferguson 

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.